Mohamed Al Fayed Sells Harrods For £1.5bn

No1Doyen


Joined: 04/07/2008
Posts: 16617

Message Posted:
08/05/2010 15:54

Harrods has been sold by Mohamed Al Fayed for £1.5bn to the Qatari royal family.





The Egyptian businessman said in a statement he wished to retire after 25 years in charge of the flagship Knightsbridge department store.

No1Doyen


Joined: 04/07/2008
Posts: 16617

Message Posted:
08/05/2010 15:56

The Al Fayed brothers bought a 30% stake in Harrods' owner House of Fraser in 1984 from Tiny Rowland and went on to purchase the remaining shares a year later in a bitter £615m takeover battle.



Kleinman said the store, established in 1834 in London's East End, was doing well despite the global recession.



"The business has done very well during the downturn - there has been an influx of money from the Middle East.



"It attracts customers from across the world and therefore it has managed to stay resilient."

Brinsley


Joined: 04/04/2009
Posts: 6858

Message Posted:
08/05/2010 17:38

I offered him £1 with a British Passport but he declined after lengthy deliberation!



Richard

jock1



Joined: 06/01/2008
Posts: 3786

Message Posted:
08/05/2010 17:42

Not a bad price for a corner shop..........

Groucho



Joined: 26/04/2008
Posts: 7993

Message Posted:
08/05/2010 18:11

It's only so they can go shoplifting without getting nicked....

Hector


Joined: 26/08/2008
Posts: 2352

Message Posted:
08/05/2010 22:28

Bet he doesn't pay CGT.

No1Doyen


Joined: 04/07/2008
Posts: 16617

Message Posted:
08/05/2010 22:32

His accountants will ensure that no tax will be paid on the sale of the business.

Blackbird



Joined: 11/08/2009
Posts: 1432

Message Posted:
08/05/2010 23:32

....Yes Bill - and hasn't he got contacts...

Brinsley


Joined: 04/04/2009
Posts: 6858

Message Posted:
08/05/2010 23:38

How can he pay tax having been denied a British Passport? Seems the same sort of stitch-up the 'City' tried on Asil Nadir but want it both ways!



Richard

arrry



Joined: 19/08/2008
Posts: 1235

Message Posted:
09/05/2010 00:08

Mo made me an offer i couldn't refuse .......................a snip at that price .............................

No1Doyen


Joined: 04/07/2008
Posts: 16617

Message Posted:
09/05/2010 00:12

arry. Why didn't you buy it and call it arrods? )

Groucho



Joined: 26/04/2008
Posts: 7993

Message Posted:
09/05/2010 07:19

good one Bill, It's been called 'arrids' for as long as I can remember. My old school uniform came from Harrods.. now there's posh!

arrry



Joined: 19/08/2008
Posts: 1235

Message Posted:
09/05/2010 08:28

"arrods "......it's got a ring to it .!! He has stopped many a small business from using " arrods " so wouldn't it be a turn up if the new owner did just that !! Although the "poshies " woudn't like it . And i don't suppose "one " would be too amused !

Groucho



Joined: 26/04/2008
Posts: 7993

Message Posted:
09/05/2010 11:15

Her Maj is too posh to shop! Arry you should know that, being best muckers and all...

smithy


Joined: 17/07/2008
Posts: 5301

Message Posted:
09/05/2010 13:18

I just hope the Store remains the same

I love a day out at Harrods and have done so for many years, I have also met Mohamed Al Feyed and found him very much a gentleman

millzer


Joined: 12/04/2007
Posts: 978

Message Posted:
09/05/2010 13:30

I work with a guy that was one of Al Fayeds bodyguards for about 5 years. Some of the stories he tells about the man would crack you up

wattys


Joined: 07/10/2008
Posts: 278

Message Posted:
09/05/2010 13:35

Now he has all that cash somone asked him what he would do about the begging letters, he said he would still keep sending them.

measey


Joined: 07/02/2009
Posts: 1037

Message Posted:
09/05/2010 13:45

Bill. credit where credits due this man took over the helm of probaly the most Famous Store in The World , kept it there as the finest store ion the World. Also has done a Fantastic job with his Football Club , Fulham FC.

iN MY Book he is someone i look up to with Respect.



Measey.

measey


Joined: 07/02/2009
Posts: 1037

Message Posted:
09/05/2010 13:56

good for him.

measey


Joined: 07/02/2009
Posts: 1037

Message Posted:
09/05/2010 13:57

Brinsley. He prefers MONACO.



Measey.

measey


Joined: 07/02/2009
Posts: 1037

Message Posted:
09/05/2010 13:59

Now, Now, Respect .



Measey.

jakki



Joined: 23/10/2007
Posts: 865

Message Posted:
09/05/2010 19:47

I like Al Fayed - but his store is a dump!! Although - Harrods did make a wonderful birthday cake for my daughter's 21st birthday - the Georgian Room (afternoon teas) is very touristy but my son loves it - he is a bit cluby, I have to say!!

measey


Joined: 07/02/2009
Posts: 1037

Message Posted:
10/05/2010 19:59

jaki. wish i had a dump worth 1.5bn.



Measey.